Hanwha Industrial Solutions officially launched Monday with a founding meeting at The Plaza Hotel in Seoul. The new company, established as a subsidiary of Hanwha Vision and Hanwha Precision Machinery, represents Hanwha Aerospace’s move to consolidate and lead Hanwha Group’s industrial solutions business.

During the inaugural meeting, key agenda items included the formal establishment of the company, the appointment of leadership and the enactment of company bylaws. Ahn Soon-Hong, the current CEO of Hanwha Vision, was appointed as both CEO and chair of the board for Hanwha Industrial Solutions.

The creation of Hanwha Industrial Solutions involved spinning off several business units from Hanwha Aerospace, including those focused on security, semiconductor equipment and chipmounters. This restructuring is designed to enhance management efficiency and increase corporate value through more agile and specialized decision-making.

“We aim to lead the market by leveraging our unique technological capabilities and providing enhanced value to our customers,” said Ahn.

Established in 1990, video surveillance solutions provider Hanwha Vision operates in over 20 countries through five subsidiaries and 15 regional offices, including in the US, Europe, and Vietnam. The company is expanding its portfolio by incorporating AI and cloud technologies into its video surveillance solutions, focusing on key sectors like retail and urban safety.

Hanwha Precision Machinery, since launching Korea’s first surface-mount technology chip mounter in 1989, is known for its extensive range of manufacturing equipment solutions and has advanced its semiconductor equipment lineup, which is currently being tested with global semiconductor leaders.

Hanwha Industrial Solutions will be listed on Sep. 27, with plans to merge with Hanwha Vision on Jan. 1, 2025, forming a new business holding company within Hanwha Group.